WASHINGTON (Reuters) - Dell Inc has won U.S. antitrust approval to buy IT management company Quest Software Inc, the Federal Trade Commission said on Monday.
Dell had said in early July that it would buy Quest for $2.4 billion to expand its software business and reduce dependence on the declining personal computer market.
The FTC put the transaction on a list of deals that it and the Justice Department’s Antitrust Division have been able to approve quickly. The list is issued several times a week.
Dell sparked a bidding war in June when it offered $25.50 per share for Quest, an enterprise management software maker, topping an initial offer by private investment firm Insight Venture Partners in March of $23 per share.
Dell has been diversifying recently, giving up low-margin sales to consumers and moving into higher-margin areas, such as catering to the technology needs of small and medium-sized businesses in the public sector and the healthcare industry.
Reporting By Diane Bartz; Editing by Leslie Adler